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News :: Media |
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BP Reportedly Demands Advance Notice Of Press Mentions |
Current rating: 0 |
by Dow Jones via futrelle
(No verified email address) |
26 May 2005
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NEW YORK (Dow Jones)--Global energy giant BP PLC (BP) reportedly is now demanding that media running its ads notify the company in advance when news stories are slated to mention BP or its industry. |
BP Reportedly Demands Advance Notice Of Press Mentions
Tuesday May 24, 2:16 PM EDT
NEW YORK (Dow Jones)--Global energy giant BP PLC (BP) reportedly is now demanding that media running its ads notify the company in advance when news stories are slated to mention BP or its industry.
Citing a memo obtained from BP's ad-buying agency, WPP Group PLC's (WPPGY) MindShare, trade magazine Advertising Age reported Tuesday that BP has "adopted a zero-tolerance policy towards negative editorial coverage" which will require news organizations to notify BP ahead of "any news text or visuals they plan to publish that directly mention the company, a competitor or the oil-and-energy industry."
The reported move by London-based BP - which in recent weeks has been mired in controversy over a March explosion at a Texas refinery that killed more than 15 people - comes on the heels of Morgan Stanley's (MWD) move last week to pull ads from publications when they publish "objectionable" stories about the bank. Morgan Stanley had announced its new policy amid a raft of negative publicity surrounding a recent restructuring effort.
BP has outlined policies for pulling ads, as well as the need for news publications to notify BP when an ad can't be pulled in order to "manage the situation proactively," according to the trade publication. If BP's ad-buying agency isn't notified of a relevant news mention prior to publication, a suspension of the advertising schedule will "likely result," the memo was quoted as saying.
Quoting an "executive familiar with the situation," the trade publication said of MindShare, "this is not the first time the agency has done this on behalf of BP," but said some aspects of it might be new.
Contacted by Dow Jones Newswires, BP spokesman Tony Odone denied the company was putting pressure on the media by pulling out advertising. "We don't tie advertising to editorial policies," he said.
WPP declined to comment on the matter, referring questions to Mindshare. Officials at MindShare, who had declined to comment for the trade publication story, couldn't immediately be reached for comment.
-By James Covert, Dow Jones Newswires; 201-938-5360; james.covert (at) dowjones.com
(Benoit Faucon in London contributed to this report.) |
See also:
http://money.iwon.com/jsp/nw/nwdt_rt_top.jsp?cat=TOPBIZ&src=704&feed=dji§ion=news&news_id=dji-00060220050524&date=20050524&
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